Irish property prices down 15.1% year on year, latest figures show

The depth of the crisis in the residential property market in Ireland is revealed in the latest figures from the Bureau of Statistics which show prices have fallen by 15.1% in the last year.

Although it is good news for buyers who can get a mortgage, the annual rate of decline in the market is showing no signs of letting up. The 15.1% annual fall for October compares with 14.3% in September.

Residential property prices fell by 2.2% in the month of October. This compares with a decline of 1.5% recorded in September and a decline of 1.2% in October of last year.

In Dublin residential property prices fell by 3.1% in October and were 17.5% lower than a year ago. Dublin house prices decreased by 3.2% in the month and were 17.1% lower compared to a year earlier.

Source: PropertyWire.com